The New Mexico legislature recently amended its laws to provide for the filing of duplicate documents. The Rhode Island legislature has enacted the Uniform Real Property Electronic Recording Act (“Act”). All the legislation discussed here is effective July 1, 2019. New Mexico House Bill 293 Where an original instrument of writing is unavailable for filing […]
The Nebraska legislature recently passed the Online Notary Public Act (“Act”), effective May 30, 2019. The Nevada legislature recently amended its laws to permit an individual to simultaneously apply for appointment as a notary public and register as an electronic notary public, and amended the licensing requirements for mortgage loan originators effective July 1, 2019. […]
The Georgia legislature recently amended provisions of its laws related to mortgage lenders and mortgage brokers, effective July 1, 2019. Georgia House Bill 185 A licensed mortgage lender is authorized to engage in all activities that are authorized for a mortgage broker and, as a result, is not required to obtain a mortgage broker license. […]
The Office of the Comptroller of the Currency (“OCC”), the Board of Governors of the Federal Reserve System (“Board”), the Federal Deposit Insurance Corporation (“FDIC”), the Farm Credit Administration (“FCA”), and the National Credit Union Administration (“NCUA”) are amending their regulations regarding loans in areas having special flood hazards to implement the private flood insurance […]
The Arizona legislature recently amended its recording fees, effective June 30, 2019. The Arkansas legislature recently amended the Fair Mortgage Lending Act (the “Act”). It also amended its laws to require closing agents to provide certain disclosures when closing a transaction involving rural and agricultural properties and amended its Personal Information Protection Act. The Arkansas […]
The Florida legislature recently amended its laws regarding licensing exemptions, effective July 1, 2019, while the New Hampshire legislature amended provisions affecting non-depository mortgage bankers, brokers, and servicers, effective May 15, 2019. Florida House Bill 935 An individual who does not hold himself or herself out to the public as being in the mortgage lending […]
The Illinois Department of Financial and Professional Regulation recently amended certain rules related to the Residential Mortgage License Act (“Act”) related to independent loan processors and advertisements, effective May 10, 2019. "Independent loan processing entity" means an entity engaged solely in providing loan processing services through the sponsoring of individuals acting as independent loan processors. […]
The New Jersey legislature recently revised the statute of limitations for foreclosures, amended its laws related to common interest associations regarding the recording of liens for unpaid assessments, amended its laws related to residential mortgage lending, all effective April 29, 2019. In addition, the legislature amended its related to foreclosure and abandoned properties, effective May […]
The West Virginia legislature recently amended its laws related to financial institutions and to provide for out-of-state commissioners who may take acknowledgments of deeds and other writings to be admitted for recording in West Virginia. The legislation discussed in this memorandum are effective May 30, and June 7, 2019 respectfully. West Virginia Senate Bill 453 […]
The Utah legislature has recently amended its mortgage loan originator licensing laws to allow temporary authority, the law setting recording fees; the law regarding notices filed with the State Construction Registry (“Registry”); the laws allowing remote notarization and liability for notarial acts of an employee. All the laws discussed are effective May 13, 2019. Utah […]
The Massachusetts legislature recently enacted legislation to protect consumer information, effective April 10, 2019. “Breach of security” means the unauthorized acquisition or unauthorized use of unencrypted data or, encrypted electronic data and the confidential process or key that is capable of compromising the security, confidentiality, or integrity of personal information, maintained by a person or […]
Learn more about the S.2155 HMDA Exemptions that went into effect in May 2018 in this RiskExec blog post. Click to read now.